If you and only you are connecting from known ISPs, there is really no reason to explicitly deny access from certain IPs. If you had a pool of users who used various ISPs, you may find it useful to block known attackers.
A good idea is to set yourself a "back door" of a known server you SSH to. If you ever find yourself locked out of your server, you can SSH from a known machine to set the hosts.allow to let yourself in.
I have never needed to use hosts.equiv, but I believe it lists trusted hostnames. Try to not get to complex unless your security needs it.
My allowed connections look like this:
ALL : localhost
ALL : 127.0.0.1
ALL : 192.168.
ALL : 172.16.
ALL : .hlrn.qwest.net
sshd : <known server IP, I'm not saying>
ALL : .phndaz91.dynamic.covad.net
ALL : .hsd1.nm.comcast.net
# RCN New York:
ALL : 207.237.